216 N Delaware St · Mounds, IL 62964

$7,500

2 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 135 Days on market

Built 1925 5,227 sqft lot $7/sqft · 79% below area

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.2/10.0

Listing remarks MLS

This 2 bedroom 1 bath house has seen better days... but we're all gonna be in those shoes one day. It's not all bad, even though this house is rough and needs alot of work - it's cheap and salvageable. Although it has some definite areas of concern the exterior won't even look like the same place once someone with capability installs a new roof, pops in new windows & doors, and hangs that fresh vinyl siding right over that original lap board... unless painting is more your style. The interior is surprisingly solid and nowhere near as distressed as you'd guess from looking at the outside.... neglected yards and peeling paint can make a house look rougher than it might be - I'm sure you've gone a little too long without a shave & haircut at least once in your day too! This one probably isn't for everyone but it'll be a good one for somebody with skills looking for cheap! 2 dilapidated houses can also be purchased extremely cheap and provides a great opportunity to triple the lot and yard size!

Key facts

• 5,227 sq ft lot
• Parking
• Built 1925

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $8k.

Deal economics

• At list price, monthly cash flow is $678 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($950 rent vs $8k).
• Recommended offer: $7k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 51/100 on livability (#1,326 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Meridian CUSD 101 (rural): math 2% / reading 2% proficiency, ranked #618 of 620 in IL (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 86% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 6 active listings in the ZIP.

Forward outlook

• In year one you build about $277 of equity ($52 loan paydown + $225 appreciation (3.0% local appreciation)).
• Pulaski County population projected at -38% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($7k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $6,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 12.67% ✓
• Cap rate: 114.84%
• Cash-on-cash: 387.68%
• DSCR: 18.25
• GRM: 0.7

CMA / ARV

• ARV (median comp): $35,114
• List price: $7,500
• Delta: -78.64%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 S Spencer St	0.26mi	2/1.0	1,000 (-3%)	5mo	$59,000	$59	79
115 North Blanche	0.20mi	2/1.0	1,092 (+6%)	15mo	$6,900	$6	68

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 22.02×
• Total profit: $44,140
• Equity at exit: $3,372

10-year hold

• IRR: —
• Equity multiple: 47.01×
• Total profit: $96,616
• Equity at exit: $5,197

Cash invested: $2,100 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 62964

• Active inventory: 6
• Price-to-rent: 0.7×

Monthly cashflow live

• Estimated rent: $950 medium
• Mortgage (P&I): −$39
• Tax from tax record: −$30 /mo · $356/yr
• Insurance: −$3
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $678

Break-even live

Break-even rent $91

Max offer price $7,500

Occupancy floor 24%

Sensitivity live

Price	-10% $704	-5% $701	+0% $678	+5% $676	+10% $674
Rent	-10% $603	-5% $641	+0% $678	+5% $716	+10% $753
Rate	-1.0pp $682	-0.5pp $680	base $678	+0.5pp $676	+1.0pp $675

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $1,875
• Closing costs: $225
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $7,500 Active 135 DOM
2. 2026-06-18
   days on market $7,500 Active 133 DOM
3. 2026-06-17
   days on market $7,500 Active 132 DOM
4. 2026-06-16
   days on market $7,500 Active 131 DOM
5. 2026-06-15
   days on market $7,500 Active 130 DOM
6. 2026-06-13
   days on market $7,500 Active 128 DOM
7. 2026-06-12
   days on market $7,500 Active 127 DOM
8. 2026-06-09
   days on market $7,500 Active 124 DOM
9. 2026-06-08
   days on market $7,500 Active 123 DOM
10. 2026-06-07
    days on market $7,500 Active 122 DOM
11. 2026-06-07
    days on market $7,500 Active 121 DOM
12. 2026-06-04
    days on market $7,500 Active 118 DOM
13. 2026-06-02
    days on market $7,500 Active 117 DOM
14. 2026-06-01
    days on market $7,500 Active 116 DOM
15. 2026-05-31
    days on market $7,500 Active 115 DOM
16. 2026-05-31
    days on market $7,500 Active 114 DOM
17. 2026-02-05
    listed $7,500 Active 1016-char remark

    Show marketing remark (1016 chars)

    This 2 bedroom 1 bath house has seen better days... but we're all gonna be in those shoes one day. It's not all bad, even though this house is rough and needs alot of work - it's cheap and salvageable. Although it has some definite areas of concern the exterior won't even look like the same place once someone with capability installs a new roof, pops in new windows & doors, and hangs that fresh vinyl siding right over that original lap board... unless painting is more your style. The interior is surprisingly solid and nowhere near as distressed as you'd guess from looking at the outside.... neglected yards and peeling paint can make a house look rougher than it might be - I'm sure you've gone a little too long without a shave & haircut at least once in your day too! This one probably isn't for everyone but it'll be a good one for somebody with skills looking for cheap! 2 dilapidated houses can also be purchased extremely cheap and provides a great opportunity to triple the lot and yard size!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $356 · $30/mo
• Projected year-2 tax: $356 · $30/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,401
• − Mortgage interest: −$420
• − Property taxes: −$356
• − Insurance: −$38
• − Repairs & maintenance: −$912
• − Management: −$912
• − Depreciation: −$218
• Taxable income: $8,545
• Est. tax owed @ 24.0%: −$2,051
• After-tax cash flow: $6,090/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Meridian CUSD 101
• NCES district ID: 1726970
• Math proficiency: 2% ▼ -9.50%
• Reading proficiency: 2% ▼ -12.50%
• Median HH income: $30,833
• Composite: 1.58/100
• National rank: #10106
• State rank: #618 of 620 in IL

Livability — Mounds

• Score: 51/100
• State rank: #1326
• US rank: #25291

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment F Housing F Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mounds, IL
• Population (ZIP): 1,028

Population outlook (Pulaski County) Hauer SSP2

• Today (2025): 4,927 people
• By 2030: 4,542 · -7.8%
• By 2040: 3,752 · -23.8%
• By 2050: 3,081 · -37.5%
• By 2075: 1,982 · -59.8%
• By 2100: 1,365 · -72.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (85%)
• Race & ethnicity: Black 85% White 12% Two or more races 2%
• Common ancestry: Serbian 1% Slovak 1%
• Foreign-born: 0%

Political lean MEDSL · Pulaski

• 2024 margin: Solid R (+34.2) · D 32.4% · R 66.6% · Other 1.1%
• 2008→2024 swing: -35.6pp toward R · 2008: 1.4pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+30.7 2016: R+31.0 2012: R+5.8 2008: D+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

1 event — show timeline

• 2026-02-05 Listed $7,500 MRED as Distributed by MLS Grid

Property tax history

+0.3%/yr

Latest (2024): $356 · +4.5% YoY. Source: county tax records.